- Issue price
- ₹695per share
- Issue size
- ₹1,450 Cr
- Face value
- ₹1per equity share
- Lot size
- 21 sharesMin. ₹14,595 at the upper price
- Anchor biddingMon, 2026
- OpensWed, 2026
- ClosesFri, 2026
- AllotmentTue, 2026Demat credit and Refunds same day
- ListingWed, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- —
- Offer for sale
- None
- Total issue
- —
- Face value
- ₹1
- Listing at
- NSE, BSE
- RHP date
- 14 Oct 2026
Source: Red Herring Prospectus dated 14 Oct 2026Updated
Reservation
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | — | — | 10% |
| Non-institutional investors (NII) | — | — | 15% |
| Qualified institutional buyers (QIB) | — | — | — |
Source: Red Herring Prospectus dated 14 Oct 2026Updated
Subscription
As of 23 Oct, 7:00 pm| Category | Shares offered | Shares bid | Times | Share of bids |
|---|---|---|---|---|
| Qualified institutional buyers (QIB) | 65,90,908 | 2,03,81,592 | 3.09× | 75.6% |
| Non-institutional investors (NII) | 32,95,454 | 21,66,507 | 0.66× | 8.0% |
| Big NII (above ₹10 lakh) | 21,96,970 | 12,89,883 | 0.59× | — |
| Small NII (₹2–10 lakh) | 10,98,484 | 8,76,624 | 0.80× | — |
| Retail individual investors | 21,96,969 | 43,95,615 | 2.00× | 16.3% |
| Total | 1,20,83,331 | 2,69,43,714 | 2.23× | — |
Times = shares bid ÷ shares offered in that category. Share of bids splits all shares bid (excluding anchor investors) by category.
How many applications get shares under SEBI's rules →
Source: NSE bid detailsUpdated
Valuation
FY 2026, pre-issue- EPS (basic)
- ₹4.34
- EPS (diluted)
- ₹4.34
- RoNW
- 12.98%
- NAV per share (June 30, 2026)
- ₹44.06
- EBITDA margin
- 20.60%
Source: Red Herring Prospectus dated 14 Oct 2026Updated
Financials
Consolidated, restated · ₹ crore| Period ended | 30 Jun 20263 months | 31 Mar 2026FY 2026 | 31 Mar 2025FY 2025 | 31 Mar 2024FY 2024 |
|---|---|---|---|---|
| Revenue from operations | 470.28 | 1,605.95 | 1,294.06 | 1,129.04 |
| Total income | 478.75 | 1,628.78 | 1,314.21 | 1,151.02 |
| EBITDA | 113.48 | 335.58 | 156.46 | 154.41 |
| Profit after tax | 49.68 | 43.83 | -57.98 | -15.33 |
| Net worth | 444.96 | 394.94 | 280.49 | 338.51 |
| Reserves and surplus | 434.86 | 384.84 | 270.73 | 328.75 |
| Total assets | 2,202.88 | 2,071.14 | 1,810.45 | 1,477.66 |
| Total borrowing | 888.89 | 829.30 | 727.93 | 547.53 |
FY 2026 vs FY 2025: revenue +24.1%, profit after tax +175.6%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: Red Herring Prospectus dated 14 Oct 2026Updated
About the company
Operates a network of eight hospitals under the Paras Health brand across North India, Bihar, Jharkhand and Jammu and Kashmir, with about 2,211 beds as of June 30, 2026. The hospitals focus on tertiary and quaternary care, with a large share of revenue from cardiac, oncology, neuro, gastro, orthopaedic and renal specialties. The company was incorporated in 1987 and was earlier named as a frozen foods business before moving into healthcare.
- Incorporated
- 1987
- Industry
- Multi-specialty hospital network
- Sector
- Healthcare and Pharma
- CIN
- U85110HR1987PLC035823
- Website
- parashospitals.com
Source: Red Herring Prospectus dated 14 Oct 2026Updated
Promoters and shareholders
| Name | Type | Before issue | After issue |
|---|---|---|---|
| Dr. Dharminder Kumar Nagar | Promoter | 72.80% | — |
| Dr. Dharminder Kumar Nagar | Selling shareholder | — | — |
| Commelina Ltd | Selling shareholder | — | — |
Source: Red Herring Prospectus dated 14 Oct 2026Updated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Prepayment or scheduled repayment of certain borrowings of the company | 320.90 |
| Investment in wholly owned subsidiary PMHPL for repayment or prepayment of its borrowings | 54.10 |
| General corporate purposes | Set with price |
Source: Red Herring Prospectus dated 14 Oct 2026Updated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Aster DM Quality Care Limited | ₹7.53 | 91.89× | 9.70% | ₹88.32 |
| Apollo Hospitals Enterprise Limited | ₹135.04 | 59.36× | 21.95% | ₹657.58 |
| Fortis Healthcare Limited | ₹13.8 | 55.43× | 11.08% | ₹131.07 |
| Global Health Limited | ₹20.71 | 64.46× | 15.15% | ₹147.06 |
| Jupiter Lifeline Hospitals Limited | ₹5.92 | 42.92× | 13.41% | ₹47.1 |
| Krishna Institute of Medical Sciences Limited | ₹6.03 | 116.41× | 11.01% | ₹56.17 |
| Manipal Health Enterprises Limited | ₹7.71 | 87.00× | 12.37% | ₹63.26 |
| Max Healthcare Institute Limited | ₹14.83 | 62.10× | 14.33% | ₹109.53 |
| Narayana Hrudayalaya Limited | ₹39.67 | 43.41× | 19.74% | ₹222.02 |
| Yatharth Hospital and Trauma Care Services Limited | ₹18.2 | 55.16× | 10.36% | ₹184.79 |
| Paras Healthcare LimitedIssuer | ₹4.34 | — | 12.98% | ₹39.11 |
Source: Red Herring Prospectus dated 14 Oct 2026Updated
Strengths and risks
Our summary of what the offer document statesStrengths
- One of the largest hospital operators by bed count in North India, Bihar and Jharkhand, with eight hospitals.
- High share of revenue from high-acuity specialties (CONGOR), above 70% in each reported period.
- Revenue and EBITDA grew over FY 2024 to FY 2026, with EBITDA margin rising as newer hospitals ramp up.
- Mix of mature, emerging and new hospitals gives both stable cash generation and growth headroom.
- Doctor-led management team with a track record of commissioning hospitals.
Risks
- The company made losses in FY 2024, FY 2025 and the June 2025 quarter, and may not stay profitable.
- Two loss-making subsidiaries depend on funding that may not be available on acceptable terms.
- High doctor and nurse attrition and competition for specialist doctors may affect service levels and costs.
- Some historical corporate records could not be traced, which may lead to regulatory or legal action.
- Offer proceeds are partly planned for debt repayment, and the company has high debt-to-equity compared with listed peers.
Source: Red Herring Prospectus dated 14 Oct 2026Updated
Contacts
Source: Red Herring Prospectus dated 14 Oct 2026Updated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: Red Herring Prospectus dated 14 Oct 2026Updated
After listing
| Listing day | Open | High | Low | Close | Close vs issue price |
|---|---|---|---|---|---|
| 28 Oct 2026 | ₹720 | — | — | — | — |
Listing-day report: Paras Healthcare IPO Listing: Positive Start at 3.6% Premium
Work out the gain or loss on allotted shares after charges and tax →
Source: Red Herring Prospectus dated 14 Oct 2026Updated
Frequently asked questions
When does the Paras Healthcare IPO open and close?
According to the Red Herring Prospectus, the issue opens on Wednesday, 21 October 2026 and closes on Friday, 23 October 2026.
What is the Paras Healthcare IPO price band?
The final issue price is ₹695 per share.
What is the lot size of the Paras Healthcare IPO?
One lot is 21 shares, which is ₹14,595 at ₹695 per share.
Where will Paras Healthcare shares list?
On NSE and BSE. The tentative listing date is Wednesday, 28 October 2026.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the Paras Healthcare IPO allotment status?
The basis of allotment is expected to be finalised on Tuesday, 27 October 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹320.9 Cr for prepayment or scheduled repayment of certain borrowings of the company, ₹54.1 Cr for investment in wholly owned subsidiary PMHPL for repayment or prepayment of its borrowings, and the rest for the other stated purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.